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FIRST UNION WINS APPEAL OF MELLON BANK LAWSUIT

 FIRST UNION WINS APPEAL OF MELLON BANK LAWSUIT
 CLEVELAND, Dec.23 /PRNewswire/ -- First Union Real Estate Investments


(NYSE: FUR) has received notice that the U.S. Court of Appeals for the Third Circuit has affirmed the order of the U.S. District Court in Pittsburgh which granted the Trust's Motion for Summary Judgment against Mellon Bank.
 In March 1988, Mellon Bank Corporation (NYSE: MEL) and Mellon Bank, N.A., filed a lawsuit against First Union for an amount in excess of $20 million claiming breach of contract and fraudulent misrepresentation in connection with the sale to Mellon of the One Oliver Plaza office building in downtown Pittsburgh.
 The Court of Appeals thoroughly analyzed the arguments and cases cited and the decision of the District Court, and concluded that Mellon's contentions were without merit.
 First Union Real Estate Investments is a self-administered equity real estate investment trust specializing in the ownership of regional shopping malls, downtown office buildings and multifamily complexes located throughout the United States. The Trust's shares are traded on the New York Stock Exchange, providing shareholders the opportunity to participate in real estate ownership while maintaining investment liquidity.
 -0- 12/23/91
 /CONTACT: Thomas T. Kmiecik, treasurer of First Union Real Estate, 216-781-4030/
 (FUR MEL) CO: First Union Real Estate ST: Ohio IN: FIN SU:


CG -- CL016 -- 4940 12/23/91 16:14 EST
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Publication:PR Newswire
Date:Dec 23, 1991
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